Nvidia doubles revenue as AI demand surges

Nvidia more than doubled its revenue and net profit in the second quarter, driven by sustained demand for AI computing power, and expects this rapid growth pace to continue. The world's most valuable company reported Q2 revenue of $96.2 billion and net profit of $59.7 billion. CEO Jensen Huang said AI infrastructure expansion is running at full speed, with production of the new Vera Rubin processor architecture now in high gear. Nvidia's market value stands at $5.07 trillion, with $1,000 invested in its stock in late 2019 now worth nearly €36,000. The company is central to the AI boom, as cloud giants like Amazon, Google, Microsoft, and Meta invest hundreds of billions in AI data centers. The stock rose nearly four percent to $218.00 in after-hours trading, recovering from a recent dip.